- January 20, 2016
- Posted by: Catalyst
- Category: Business Energy News
Sutton and East Surrey Water (SESW) has applied for a licence to extend its service into the Scottish business retail market in order to prepare for the business water market opening to non-household customers in England in April 2017.
The company said it hopes to gain “invaluable experience” in the existing competitive market.
SESW said in their half-year financial results that making sure it is ready for the competitive market has been under increased Board scrutiny in the past six months.
“It is clear that awareness of the planned changes in the market is still low among business customers and much work is needed to raise understanding of the options that will be available to them,” it said.
The firm reported an operating profit of £10.4m, a drop of £0.6m since H1 2014.
The decrease was largely due to an increase in operating costs of £0.8m, thanks to higher manpower costs and the expenses associated with the Open Water programme.
However, the company has invested £8.6m in H1 2015/16, which has been called a “determined start” in delivering the capital investment programme for the new five-year regulatory period.